Govt expects to collect K2.06 billion


THE Government expects to collect K2.06 billion next year in dividends, trust fund balance transfers and fees and charges, according to Treasury Secretary Dairi Vele.
Vele said this including K1.25 billion in dividends, K565 million in balance transfers from State entities and K161.5 million in fees and charges. Of the total dividends:

  • K300┬ámillion is budgeted to be received from Kumul Petroleum Holdings;
  • K400 million from the National Fisheries Authority;
  • K200 million from Ok Tedi;
  • K150 million from the Bank of Papua New Guinea;
  • K100┬ámillion from Kumul Consolidated Holdings (KCH);
  • K75 million from National Gaming Control Board; and,
  • K25 million from the Motor Vehicle Insurance Limited.

Other income totalling K565 million relates to trust fund balance transfers from the National Fisheries Authority, the National Gaming Control Board, KCH, the Mineral Resource Authority, National Maritime and Safety Authority and the Conservation and Environmental Protection Authority.